Slagle Financial LLC Has $2.02 Million Stock Holdings in ConocoPhillips (NYSE:COP)

Slagle Financial LLC lifted its holdings in shares of ConocoPhillips (NYSE:COP) by 7.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 17,621 shares of the energy producer’s stock after purchasing an additional 1,247 shares during the quarter. Slagle Financial LLC’s holdings in ConocoPhillips were worth $2,015,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Valued Wealth Advisors LLC boosted its position in ConocoPhillips by 45.8% during the 1st quarter. Valued Wealth Advisors LLC now owns 261 shares of the energy producer’s stock worth $33,000 after acquiring an additional 82 shares during the last quarter. Astoria Portfolio Advisors LLC. boosted its holdings in ConocoPhillips by 4.0% during the first quarter. Astoria Portfolio Advisors LLC. now owns 2,232 shares of the energy producer’s stock worth $291,000 after purchasing an additional 85 shares during the last quarter. Manchester Capital Management LLC boosted its holdings in ConocoPhillips by 22.1% during the first quarter. Manchester Capital Management LLC now owns 475 shares of the energy producer’s stock worth $60,000 after purchasing an additional 86 shares during the last quarter. Adirondack Trust Co. grew its position in ConocoPhillips by 3.1% in the fourth quarter. Adirondack Trust Co. now owns 2,990 shares of the energy producer’s stock valued at $336,000 after purchasing an additional 90 shares in the last quarter. Finally, Mayfair Advisory Group LLC increased its stake in ConocoPhillips by 3.5% in the 1st quarter. Mayfair Advisory Group LLC now owns 2,627 shares of the energy producer’s stock valued at $334,000 after buying an additional 90 shares during the last quarter. Institutional investors own 82.36% of the company’s stock.

ConocoPhillips Stock Performance

NYSE COP traded up $1.43 on Friday, reaching $111.40. The stock had a trading volume of 4,021,876 shares, compared to its average volume of 5,675,574. ConocoPhillips has a 1-year low of $102.27 and a 1-year high of $135.18. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.33 and a quick ratio of 1.19. The company has a market cap of $130.29 billion, a P/E ratio of 12.59, a price-to-earnings-growth ratio of 2.22 and a beta of 1.24. The firm has a fifty day moving average of $111.38 and a two-hundred day moving average of $116.93.

ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Thursday, August 1st. The energy producer reported $1.98 EPS for the quarter, topping analysts’ consensus estimates of $1.96 by $0.02. The business had revenue of $14.14 billion for the quarter, compared to analyst estimates of $14.96 billion. ConocoPhillips had a net margin of 18.18% and a return on equity of 20.81%. ConocoPhillips’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same period last year, the firm earned $1.84 earnings per share. On average, equities research analysts anticipate that ConocoPhillips will post 8.64 EPS for the current year.

ConocoPhillips Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Monday, August 12th will be paid a $0.58 dividend. This represents a $2.32 annualized dividend and a dividend yield of 2.08%. The ex-dividend date is Monday, August 12th. ConocoPhillips’s dividend payout ratio (DPR) is currently 26.27%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Barclays increased their price objective on shares of ConocoPhillips from $158.00 to $160.00 and gave the stock an “overweight” rating in a research note on Thursday, May 30th. Royal Bank of Canada increased their price target on ConocoPhillips from $135.00 to $140.00 and gave the company an “outperform” rating in a research report on Wednesday, May 15th. UBS Group raised their price target on ConocoPhillips from $151.00 to $153.00 and gave the company a “buy” rating in a research note on Tuesday. Bank of America reiterated a “buy” rating and set a $147.00 price objective on shares of ConocoPhillips in a research note on Friday, June 14th. Finally, Truist Financial cut their price objective on ConocoPhillips from $147.00 to $145.00 and set a “buy” rating for the company in a report on Friday, August 2nd. Five investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, ConocoPhillips presently has a consensus rating of “Moderate Buy” and a consensus price target of $143.65.

Insider Buying and Selling

In related news, Director Timothy A. Leach sold 55,500 shares of the firm’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $108.11, for a total value of $6,000,105.00. Following the transaction, the director now owns 455,909 shares in the company, valued at $49,288,321.99. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.34% of the stock is currently owned by company insiders.

ConocoPhillips Profile

ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids in the United States, Canada, China, Libya, Malaysia, Norway, the United Kingdom, and internationally. The company's portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; global LNG developments; oil sands assets in Canada; and an inventory of global exploration prospects.